Asia faces costlier LPG as low US oil price prompts NGL estimate cuts

摘要

Singapore-Low US oil prices have prompted a significant downward revision of the US NGL production over the next few years, which may increase LPG import prices for Asia, according to S&P Global Platts Analytics. Platts Analytics forecasts US NGL production to drop about 289,000 b/d, or 4.6% below initial estimates this year, followed by a fall of 776,000 b/d in 2021, down 12%, before reaching the maximum decline of about 1.12 million b/d in 2022, down 16%.